DNV 2024 full year results

IIOA member DNV has published its 2024 full year results with revenue increasing by 10.7% to 34,966m NOK.

The Business Assurance division which helps ‘companies ensure compliance, build high-performing management systems, and meet competence needs within a wide range of industries’, with services including, ‘Management system certification (generic and industry-specific standards), training and competence-related services and certification of persons’, saw a 15% revenue increase to 4,255m NOK.

DNV note the key influencing the Business Assurance performance:

• Expanding certification and training services
• Ensuring responsible AI through management system certification
• Delivering on ESG demands
• New risks in the automotive and aerospace industries
• Sustainability driving food certification
• Managing the cybersecurity threat.

As an example, regarding certification DNV states, ‘While major standards like ISO 9001 for quality, ISO 14001 for environmental management, and ISO 45001 for occupational health and safety remain core to DNV’s business, companies today face a broader set of risks as they deal with global transformations, such as sustainability, digitalization, and AI implementation. In 2024, DNV strengthened its certification and train-ing portfolio, including in the areas of information security, innovation management (ISO 56001), and AI process governance, to help companies navigate these transformations’.

In terms of outlook, against the background of uncertainty in 2024, DNV’s view for 2025 are that ‘2025 looks no more certain, as economies around the world brace for protectionist policies which could reignite inflation, leading to higher-for-longer interest rates that hinder economic growth. Moreover, we see increased headwinds in several of DNV’s strategic service areas related to the energy transition due to financial, political, and social challenges and constraints.’

The DNV Annual Report 2024 can be viewed here.